https://amgreatness.com/2025/02/25/no-trumps-tariffs-will-not-cause-inflation/
President Trump has imposed 10 percent tariffs on imports from China. Predictably, the media’s chicken littles shrieked that the sky was falling. Tariffs will raise prices! Not only that but the poor will be hardest hit! Just think of the children!
These arguments are easily dismissed as appeals to emotion—they are rhetorical flourishes, devoid of truth and meaning. In reality, both history and logic prove that tariffs will not increase prices in the long run. Rest easy: the sky remains high above your head.
The Time Traveler
Every time President Trump threatens to raise tariffs, the media clucks that American consumers will pay the price. This did not happen last time, and it is unlikely to happen now. Consider the great washing machine debacle of 2018.
In January of 2018, President Trump announced that he would impose a 40 percent tariff on imported washing machines. On top of this, he also imposed additional duties on imported steel and aluminum—lightning occasionally strikes twice.
At the time, liberals lost their collective minds. They lamented that low-income Americans would not be able to afford washing machines. They pontificated that we would be living in a nation of grungy, soiled masses—living caricatures of Pig-Pen from the Peanut’s gang.
Of course, that never happened.
The price of washing machines did not change appreciably over the next few years. This is obvious when looking at the Consumer Price Index (“CPI”). The CPI tracks the prices of over 80,000 consumer goods and services in cities across America. They do this every month. How? They contact stores and obtain actual sale prices.
What did the CPI have to say about the price of washing machines in the aftermath of President Trump’s insidious wave of tariffs? Not much.